Mid-Market: S&P/ASX 200 Trading Low; Buoyed by Information Technology

On 02 August 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, decreasing 154.40 points, or 1.90%, to 7,960.30. All 11 sectors are trading lower. Information Technology and A-REIT are the top declining sectors, declining 2.58% and 2.28% in their index values, respectively.

Block Inc. (ASX: SQ2) and Pinnacle Investment Management Limited (ASX: PNI) are the top-gaining stocks, with stock prices increasing by 4.787% and 2.127%, respectively. Deep Yellow Limited (ASX: DYL) and Paladin Energy Limited (ASX: PDN) are the top-losing stocks, with stock prices declining by 15.193% and 11.107%, respectively.

Factors influencing the market-

• ResMed Inc.'s stock rose 1.5% after its revenue increased 9% to AU$1.2 billion USD ($1.85 billion AUD) for the last quarter of fiscal 2024. This resulted in a quarterly dividend of 53 cents USD per share.
• Atlassian Corporation reported a net operating loss of USD 67 million for the fourth quarter, widening from USD 50.4 million in the same period last year.
• Sky City Entertainment Group Ltd. (NZX: SKC) shares fell 0.5% after announcing a five-day closure of its Auckland casino gambling area in September due to non-compliance issues.
• Macquarie Group Ltd. (ASX: MQG) is considering a new hybrid offer to replace AU$1 billion of callable capital notes in December.
• Oil prices retreated after their most significant gain in over nine months, as signs of a slowing US economy outweighed concerns about potential supply disruptions from the Middle East conflict.
• The Dow Jones closed low by 1.21%, while the S&P 500 and NASDAQ decreased by 1.37% and 2.30%, respectively. 
• The Hang Seng is down 0.23%, and the FTSE 100 has fallen by 1.01% today.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com